State-owned refinery, Petrojam, has rolled back on the meteoric increase in asphalt prices this week even as mostly neglibile changes to fuel costs dominate its latest update.
A week after an initial, whopping 1100% increase in the baseline price of asphalt, it appears that a system glitch was responsible for the figure, with some semblance of normalcy returning to Petrojam’s pricing regimen.
In its closely watched petroleum product price index, the refinery advised that 87-octane gasolene would cost J$0.25 less; opening at an introductory price of J$170.20.
The new pricing update, which took effect on Thursday (June 8), also sees automotive diesel, asphalt, heavy fuel oil (HFO) and kerosene rising J$0.25, J$0.28, J$0.75 and J$0.25 respectively.
All other products on Petrojam’s index enjoyed mixed reductions, which were most pronounced for ultra-low sulphur diesel, propane and butane.
It is expected that retailers will add their mark-ups to the announced prices.
See breakdown of prices below:
|Product||Price per unit (effective June 8, 2023)||Price change (from last week)|
|Gasolene 87||$ 170.20||-$0.25 ($170.45)|
|Gasolene 90||$173.72||-$0.25 ($173.97)|
|Auto diesel||$165.87||+$0.25 ($165.62)|
|Asphalt||$114.27||+$0.28 ($113.99 *previously revised from initial price of $1113.99)|